The verification payment is a requirement in order for us to verify that we are paying funds out to the same legal entity we are collecting on behalf of.
IMPORTANT: The bank account you enter must be registered in the same name as the legal entity you are collecting payments on behalf of; e.g. if your company is registered in the name "Example Company", your bank account must also be registered with the account holder name of "Example Company".
This article explains how to make the verification payment, and answers common queries specific to this verification.
- How do I make the verification payment?
- Where do I find the payment details?
- How long does the verification take after I've made the payment?
- What happens after I've made the payment?
- Will I be reimbursed for the verification payment?
Please use online banking to make the verification payment as you would a regular outgoing transfer.
Please do not use other means (e.g. CHAPS, telephone banking, paying in a cheque at your bank etc.) to make the payment as we are unlikely to see all the required details on our statement if you make the payment this way.
When you connect your bank account, you will receive an email that contains all of the details of the payment that you need to make. Additionally, the payment details can be found in your account settings under Step 7: Verify Payout Bank Account.
Once you’ve made the verification payment, it may take up to two working days for us to verify your payout bank account.
Payments made during banking hours on working days should appear on our statement the following working day (e.g. if you make the 1p transfer on Monday morning, we will see it on Tuesday).
Payments made after the close of banking hours, over the weekend or on bank holidays will not appear on our statement until two working days after you make the transfer (e.g. if you make the transfer on Friday evening, it won’t show on our statement until the following Tuesday).
Each verification payment report we receive is run through an automated check. Providing your bank account details match what we were expecting, your bank account verification will automatically update to verified.
If there is a discrepancy in the details we receive a member of our verification team will be in touch to assist you in completing this step in your verification process.
Unfortunately not, the verification payment is non-refundable.
Unable to make the verification payment? Find an alternative method